"Relax," said the stock man, "We are programmed to receive.You can check-out any time you like, But you can never leave."-Chinese stock market saga
Vivek Singh Jamwal, FRM
Director, Private Markets Technology at Manulife John Hancock Investment Management
Stock markets have a single guiding path forward - it is corporate earnings. Nothing more, nothing less. The biggest issue with the Chinese stock market now is the loss of confidence, the feeling that the market is no longer driven by earnings - but by the efforts to "stabilize" it.
"Hotel California"
On a dark desert highway, cool wind in my hair
Warm smell of colitas, rising up through the air
Up ahead in the distance, I saw a shimmering light
My head grew heavy and my sight grew dim
I had to stop for the night
There she stood in the doorway;
I heard the mission bell
And I was thinking to myself,
"This could be Heaven or this could be Hell"
Then she lit up a candle and she showed me the way
There were voices down the corridor,
I thought I heard them say...
Welcome to the Hotel California
Such a lovely place (Such a lovely place)
Such a lovely face
Plenty of room at the Hotel California
Any time of year (Any time of year)
You can find it here
Her mind is Tiffany-twisted, she got the Mercedes bends
She got a lot of pretty, pretty boys she calls friends
How they dance in the courtyard, sweet summer sweat.
Some dance to remember, some dance to forget
So I called up the Captain,
"Please bring me my wine"
He said, "We haven't had that spirit here since nineteen sixty nine"
And still those voices are calling from far away,
Wake you up in the middle of the night
Just to hear them say...
Welcome to the Hotel California
Such a lovely place (Such a lovely place)
Such a lovely face
They livin' it up at the Hotel California
What a nice surprise (what a nice surprise)
Bring your alibis
Mirrors on the ceiling,
The pink champagne on ice
And she said "We are all just prisoners here, of our own device"
And in the master's chambers,
They gathered for the feast
They stab it with their steely knives,
But they just can't kill the beast
Last thing I remember, I was
Running for the door
I had to find the passage back
To the place I was before
"Relax, " said the night man,
"We are programmed to receive.
You can check-out any time you like,
But you can never leave! "
****************
1) China’s State Media Join Brokerages Saying Buy Equities
Article dated September 4, 2014
There she stood in the doorway;
I heard the mission bell
And I was thinking to myself,
"This could be Heaven or this could be Hell"
Then she lit up a candle and she showed me the way
There were voices down the corridor,
I thought I heard them say...
Welcome to the Hotel California
***************************
1) China bans major shareholders from selling their stakes for next six months
Article dated July 9, 2015
2) Chinese Trading Suspensions Freeze $1.4 Trillion of Shares Amid Rout
Article dated July 7, 2015
3) China kills the CSI 300 volumes, down 99% from June peak
https://www.fxstreet.com/news/forex-news/article.aspx?storyid=b1200d65-a09b-47e0-8043-4347a6632cc7
Article dated Sep 9, 2015
This was one the biggest futures markets of the world, and now liquidity is gone. Higher margin requirements, tighter position limits, and most importantly fear of being labelled a market manipulator has kept people away.
4) As Markets Flail, China Investigates Large Brokerage Firms
Article dated Aug 26, 2015
Last thing I remember, I was
Running for the door
I had to find the passage back
To the place I was before
"Relax, " said the night man,
"We are programmed to receive.
You can check-out any time you like,
But you can never leave! "
***************
Cant sell, cant hedge, Sir would you like to pay by cash or card, please?
Good one. Like it.